Client Background
A leading retail brand with offices across the GCC region was facing a challenge. The company’s treasury team had 7 million USD stuck in one of their GCC entities and needed to move it to their UAE office on management’s orders.

The Challenge
The treasury team began negotiating with their existing banks to facilitate this large transfer. However, the process was slow and the rates offered by the banks were not competitive enough, leading to potentially high costs for the transfer.

The Solution
Hubpay’s Corporate FX Platform

Coincidentally, Hubpay’s outreach efforts connected them with the client’s treasury team at the right time. After learning about their requirements, Hubpay's team quickly assessed whether they could facilitate the payment. With competitive rates and transparent pricing, the client discovered that Hubpay could save them 15,000 AED on the transfer.

The Results
Following the management’s approval, the client onboarded with Hubpay. Over 3.5 weeks, Hubpay’s Sales and FX teams worked closely with the treasury team, facilitating the full transfer of 7 million Qatari Riyal to the UAE in multiple payments, ensuring a smooth and cost-efficient process.

Key Takeaways

• Savings: 15,000 AED saved with competitive rates.

• Volume: 7 million USD successfully transferred to the UAE.

• Efficiency: A streamlined process completed in 3.5 weeks, with continuous support from Hubpay’s team.